Report Update Nov 1, 2024

Finland - Tungsten - Market Analysis, Forecast, Size, Trends and Insights

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Finland: Tungsten Market 2024

Tungsten Market Size in Finland

In 2022, the Finnish tungsten market increased by 109% to $X, rising for the third consecutive year after two years of decline. Over the period under review, consumption enjoyed a significant expansion. Tungsten consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Tungsten Production in Finland

In value terms, tungsten production stood at less than $X in 2022 estimated in export price. Overall, production showed a sharp slump. The most prominent rate of growth was recorded in 2017 when the production volume decreased by 99.9%. Tungsten production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Tungsten Exports

Exports from Finland

In 2022, approx. X kg of tungsten were exported from Finland; with an increase of 1,300% compared with 2021 figures. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tungsten exports surged to $X in 2022. In general, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X kg) was the main destination for tungsten exports from Finland, accounting for a 93% share of total exports. Moreover, tungsten exports to the United States exceeded the volume sent to the second major destination, the UK (X kg), more than tenfold.

From 2016 to 2022, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) emerged as the key foreign market for tungsten exports from Finland, comprising 100% of total exports. The second position in the ranking was taken by the UK ($X), with a 0.1% share of total exports.

From 2016 to 2022, the average annual growth rate of value to the United States was relatively modest.

Export Prices by Country

The average tungsten export price stood at $X per ton in 2022, picking up by 1,432% against the previous year. Overall, the export price recorded significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK amounted to $X per ton.

From 2016 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+55.2%).

Tungsten Imports

Imports into Finland

In 2022, after two years of growth, there was significant decline in overseas purchases of tungsten, when their volume decreased by -25% to X kg. In general, imports, however, showed a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 4,814%. As a result, imports attained the peak of X kg. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, tungsten imports declined remarkably to $X in 2022. Over the period under review, imports, however, posted a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 3,795% against the previous year. Imports peaked at $X in 2021, and then fell dramatically in the following year.

Imports by Country

In 2022, Sweden (X kg) was the main supplier of tungsten to Finland, with a 98% share of total imports. It was followed by Germany (X kg), with a 0.6% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from Sweden totaled -9.2%.

In value terms, Sweden ($X) constituted the largest supplier of tungsten to Finland, comprising 98% of total imports. The second position in the ranking was held by Germany ($X), with a 0.2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Sweden totaled +4.9%.

Import Prices by Country

In 2022, the average tungsten import price amounted to $X per ton, declining by -16.9% against the previous year. In general, the import price showed a perceptible decline. The pace of growth appeared the most rapid in 2019 an increase of 210%. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Germany amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+25.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tungsten in the world?

China remains the largest tungsten consuming country worldwide, accounting for 86% of total volume. It was followed by Russia, with a 2.5% share of total consumption.

What are the largest producers of tungsten in the world?

China constituted the country with the largest volume of tungsten production, accounting for 88% of total volume. It was followed by Russia, with a 2.4% share of total production.

What are the leading suppliers of tungsten to Finland?

In value terms, the UK, Sweden and China were the largest tungsten suppliers to Finland.

What is the average export price for tungsten in Finland?

The average tungsten export price stood at $54,825 per ton in 2021, standing approx. at the previous year.

What is the average import price for tungsten in Finland?

The average tungsten import price stood at $86,657 per ton in 2021, shrinking by -47.2% against the previous year.

This report provides an in-depth analysis of the tungsten market in Finland. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Finland

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Finland
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023